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PLAINS ALL AMERICAN PIPELINE, L.P.

(PAA)
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Plains All American likely at end of asset sale period -company

11/02/2021 | 05:42pm EST

NEW YORK, Nov 2 (Reuters) - Plains All American Pipeline is likely at the end of a period of significant asset sales that has lasted for several years and involved $4.5 billion in sales, company officials said on Tuesday.

At the same time, the company will be looking at ways to rationalize pipeline capacity in the Permian basin, as the region deals with excess capacity.

"The industry as a whole – so not just Plains but all the larger owners of the pipelines – are looking at it," said Jeremy Goebel, chief commercial officer. "Some projects make more sense than others. At this time, nothing has been announced, but I would tell you that everyone wants that to happen."

The Permian basin will be positioned to drive a vast majority of U.S. short-cycle production growth, chief executive Willie Chiang added during the company's third quarter earnings call.

The discussion around production growth come at a time when energy demand is rebounding after the coronavirus pandemic.

"Global demand is recovering to pre-COVID levels, resulting in sustained inventory draws against a multi-year backdrop of reduced upstream investment and a continuation of OPEC discipline," Chiang said. (Reporting by Stephanie Kelly Editing by Chris Reese and David Gregorio)


ę Reuters 2021
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Analyst Recommendations on PLAINS ALL AMERICAN PIPELINE, L.P.
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Financials (USD)
Sales 2021 36 543 M - -
Net income 2021 301 M - -
Net Debt 2021 9 905 M - -
P/E ratio 2021 23,6x
Yield 2021 6,74%
Capitalization 7 595 M 7 595 M -
EV / Sales 2021 0,48x
EV / Sales 2022 0,46x
Nbr of Employees 4 400
Free-Float -
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Technical analysis trends PLAINS ALL AMERICAN PIPELINE, L.P.
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Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 22
Last Close Price 10,68 $
Average target price 13,71 $
Spread / Average Target 28,4%
EPS Revisions
Managers and Directors
Willie C. W. Chiang Chairman & Chief Executive Officer
Harry N. Pefanis President & Non-Independent Director
Alan P. Swanson Chief Financial Officer & Executive Vice President
Alfred A. Lindseth Senior VP-Technology, Process & Risk Management
Matt Isom Vice President-Engineering
Sector and Competitors